DIC : Notice of New Revision of Drawdown Date for Subordinated Term Loan

ENGLISH TRANSLATION OF JAPANESE-LANGUAGE DOCUMENT

This is a translation of the original Japanese-language document and is provided for convenience only. In all cases, the Japanese-language original shall take precedence.

	July 1, 2021
Company name
Representative	Kaoru Ino
	Representative Director
	President and CEO
	(Securities code: 4631)
Contact	Masaaki Nakagawa
	General Manager
	Corporate Communications Department
	(Tel.: [phone])

Notice of New Revision of Drawdown Date for Subordinated Term Loan

DIC Corporation hereby announces the revision of the drawdown date for the subordinated term loan described in its press release, titled "Notice of Revision of Drawdown Date for Subordinated Term Loan," published on March 5, 2021.

1. Reason for new revision of drawdown date

DIC plans to use funds procured through this subordinated term loan for the acquisition of the Color & Effects business of BASF SE, which was announced in its press release titled "Notice Regarding the Acquisition of the Shares and Assets of a Pigments Business from BASF SE of Germany and Transformation of the Business into a Subsidiary," published on August 29, 2019. DIC completed the closing of this transaction on June 30, 2021. Because the completion was delayed until June, the limit for the subordinated loan's drawdown date has once again been extended.

2. Summary of the subordinated loan

Total amount procured	¥60 billion
Contract date	June 30, 2021
Drawdown date	Any date up to and including September 30, 2021
	(Revised from "Any date up to and including June 30, 2021")
Use of funds procured	Business acquisition
Due date	60 years from the drawdown date
Early repayment*	The Company may repay before the due date all or part of the
	principal on each interest payment date five years from the drawdown
	date or later, or in certain other specified circumstances.
Interest deferral clause	The Company may defer payment of interest.
Evaluation of equity credit	Japan Credit Rating Agency: Medium/50%
attributes (expected)

• In the case of early repayment of the subordinated loan, DIC anticipates procuring funds through the issue of common stock or debt (refinancing securities) approved by rating agencies as having equity credit attributes equivalent to or higher than the subordinated loan. However, if the Company satisfies certain financial requirements when early repayment is made five years after the drawdown date or later, it may defer the procurement of funds through refinancing securities.
• • Ends -